CenterPoint Energy, Inc. announced that it has successfully completed the previously announced sale of its natural gas distribution utilities in Louisiana and Mississippi to affiliates of Bernhard Capital Partners.
The assets include approximately 12,000 miles of main pipeline in Louisiana and Mississippi serving approximately 380,000 metered customers. The company that will serve those customers going forward will be Delta Utilities, which is based in New Orleans.
The transaction received all federal and state regulatory approvals necessary to complete the sale, including Hart-Scott-Rodino antitrust clearance and from the Louisiana Public Service Commission and the Mississippi Public Service Commission. Delta Utilities will immediately assume responsibility for serving CenterPoint Energy's former customers in Louisiana and Mississippi.
CenterPoint President and CEO Jason Wells said, “I would like to thank our Louisiana and Mississippi employees and those that support these businesses for their dedication to customer service and quality. We will continue to support Delta Utilities towards a smooth transition for the benefit of the customers served in those jurisdictions.”
Wells added, “The sales proceeds from this transaction support the efficient funding of what we believe is one of the most tangible long-term growth plans in the industry. We will continue to optimize the funding of our capital investments to support safety, reliability and resiliency for the benefit of our customers and communities.”
